Danny Simard

09/25/2024

With the recent drop in interest rates by the fed, this comes as no surprise. If your interest rate is above 6%, consider refinancing!

Also, if you're seeing my weekly stories, you'll see that monthly payments for a typical LA home are down by more than $1,000 from about six months ago, and that change is almost entirely due to a drop in interest rates by about 1.25%.

Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.

12/08/2022

housing market is doing just fine. Biggest takeaway: prices are the same as a year ago.

Set up your custom home search: bit.ly/3unzh4Y

Send any questions you have in the comments or DM me. My team and I serve all of Southern California ☀️🏡

Danny Simard
Broker Associate @ Craft & Bauer Real Estate Co.
📧 [email protected]
📱 (619) 943-3817

CA DRE lic. # 01957729

01/25/2021

How hot is the market?

This listing got 35 offers after 9 days on the market.

(i-Tech MLS) For Sale: 3 beds, 2 baths ∙ 1170 sq. ft. ∙ 1965 Mentone Ave, Pasadena, CA 91103 ∙ $699,000 ∙ MLS # 320004488 ∙ Located in the desirable Muir Heights neighborhood of Pasadena, sits this quintessentia...

01/05/2021

The Southern California real estate market: why is it so hot?

Let's discuss a recurring question: why is real estate in Southern California so expensive and so quick to sell, especially compared to similar areas?

Taking a look at the data from November 2020, we can see that fewer homes are selling faster and for more. This trend isn't anything new, so let's take a look at one contributing factor: nowhere near enough supply to catch up with demand.

Since the 1980's, we have experienced growth in California's population and home sales -- but a substantial drop in permits for construction.

Many buyers and sellers choose to relocate -- either to cash in their equity, or because they cannot afford to buy in LA, OC, or San Diego. Where are they going? First to the Inland Empire, and then to some familiar regional places: Arizona, Nevada, Colorado, Oregon, and so on.

Personally, I still think it’s a great long-term strategy to own in Southern California, and I offer the same advice to my clients.

SOURCE: CAR Market Data: https://www.car.org/marketdata/data

I love talking Real Estate, personal finance, and related topics, so DM me if you have any questions or thoughts. See you later!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729

11/23/2020

In so many ways, 2020 has been crazy, and the Real Estate market is no exception.

Year over year, prices and transaction volume are way up across Southern California. Between October 2020 and September 2020, the numbers seem to indicate some cooling off heading into the holiday months.

Nationally, the Real Estate market tends to slow down around the holidays. Will this pan out in Southern California? We can look at the numbers to see what it’s like so far (and what historical data show us) and ponder the future from there.

Given the uncertainty across so many dimensions right now, I think it’s a pitfall to try to predict what the market will look like going forward. But, the fundamentals still hold true: if you’re planning to buy, stick to your plan and take action when you’re ready. If buying or selling isn’t in the near future, stick to that plan. The market will be ready for you when you’re ready for it.

SOURCES:

Zillow Research: https://www.zillow.com/research/
NAR Research and Statistics: https://www.nar.realtor/research-and-statistics
CAR Market Data: https://www.car.org/marketdata/data

I love talking Real Estate, personal finance, and related topics, so DM me if you have any questions or thoughts. See you later!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729

11/10/2020

There are many pros and cons to buying and owning a home — here is a breakdown of three reasons to rent instead of buy.

1: MOBILITY

If you need to move to another city for a new job or to go back to school, moving out is relatively simple. Most of the time, you give the landlord 30 days notice, pack up, and go. This is much more seamless than selling a home you own. If your career or your personal situation requires more mobility, it can make more sense to rent until you’re more ready for homeownership.

2: STRESS-FREE REPAIRS

When the toilet or the fridge inevitably breaks, you don’t have to pay to fix it. Most of us have been renters at some point, so we know that when problems occur, we call up the landlord and they take care of the repairs.

3: FINANCIAL READINESS

Homes in Southern California are expensive, so in many situations, the rent on a similar property could be cheaper. Plus, renting makes sense for future home buyers who are still paying off debt, improving their credit, and/or saving up for a down payment and closing costs.

SOURCE: https://www.webuyuglyhouses.com/blog/11-home-repairs-break-bank/

I love talking Real Estate, personal finance, and related topics, so DM me if you have any questions or thoughts. See you next week!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729

11/02/2020

There are many pros and cons to buying and owning a home — here is a breakdown of three advantages.

1: EQUITY ADVANTAGE

After you close escrow, you lock in your monthly payments for the long haul. You don’t have to worry about a landlord increasing your rent once a year — all while the value of your home is increasing in value (over the long run). With that increased value and locked-in base, you have another tool in your financial toolbox. You can borrow against that equity to pay off debt or renovate your home (see: home equity line of credit, or HELOC). Also, when you decide to sell, you can use that equity to upgrade into a higher priced home without having to substantially raise your monthly payments.

2: TAX ADVANTAGE

** disclaimer: this is generalized information; always consult a tax professional about your unique situation **

Our tax system is designed to benefit homeowners! You could potentially write off interest on your mortgage,

SOURCE: https://www.fhfa.gov/DataTools/Tools/Pages/FHFA-HPI-Top-100-Metro-Area-Rankings.aspx

I love talking Real Estate, personal finance, and related topics, so DM me if you have any questions or thoughts. See you next week!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729

10/24/2020

For most of us, thinking about saving up for a down payment can seem daunting. These five and six digit numbers seem almost abstract -- and most of us think about our bills in terms of monthly payments instead.

In this video, I want to simply reframe saving for a down payment as this: how much should I budget to save each month so that I can have my down payment ready to go once I start looking to buy a home?

ASSUMPTIONS: Purchase price of $500,000, a 5% down payment, and a time frame of three years (36 months).

The math comes out to $694.44 -- and if we round up to $700 per month, after three years, we'll have our 5% down payment saved!

I love talking Real Estate (and personal finance!), so DM me if you have any questions or thoughts on this. See you next week!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729

10/09/2020

In 1978, Proposition 13 became law, which changed how property tax works in the state of California. Right now, unless and until property changes ownership, the property tax can only increase 2% per year.

Proposition 15 (on the ballot right now!) proposes a change to the way the 1978 law works. It proposes taxing commercial and industrial properties at current market value.

MOST IMPORTANTLY for this video — Proposition 15 proposes NO change to residential property taxes. This change would only impact commercial and industrial properties.

Unfortunately, some of the political ads relating to this proposition are misleading or plainly dishonest. All I seek to do here is 1) clarify this distinction between residential and commercial/industrial; and 2) encourage everyone to vote!

Read the proposed change directly from the source here:https://vig.cdn.sos.ca.gov/2020/general/pdf/topl-prop15.pdf

And please — register to vote, plan out how you’re going to vote, and encourage a friend to do the same! More information here: https://registertovote.ca.gov/

Please feel free to DM me with any questions you might have about this proposition or any other Real Estate or personal finance topic

See you next week!

Danny Simard
Real Estate Agent/Advisor
California DRE license 01957729